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Tag: Congress

Last-minute tax break bill likely won't pass in Congress

Last-minute tax break bill likely won't pass in Congress

Finance
If you were planning on nabbing a deduction for your mortgage insurance or your college expenses, prepare to sit tight. That's because these and other breaks that are known as the "tax extenders" are bundled into newly proposed legislation that's likely going nowhere fast, according to policy experts. The House Ways and Means Committee proposed a package of tax provisions on Monday, known as the Retirement, Savings and Other Tax Relief Act of 2018 and the Taxpayer First Act of 2018. In addition to renewing the "tax extenders" for the 2018 tax year, Wa...
Crypto industry leaders warn Congress: Figure out regulation, or watch innovation leave the US

Crypto industry leaders warn Congress: Figure out regulation, or watch innovation leave the US

Finance
The cryptocurrency industry has a plea for Congress: Hurry up and regulate, please. More than 50 industry participants gathered on Capitol Hill for a roundtable discussion hosted by Rep. Warren Davidson, R-Ohio, Tuesday. Although attendees varied, none were from anti-establishment groups popular in the cryptocurrency space, nor did they include retail investors who bought bitcoin as a speculative bet. Instead, experts from Fidelity, Nasdaq, State Street, Andreessen Horowitz, and the U.S. Chamber of Commerce filled a room in the Library of Congress. There, they politely but firmly addressed what they deemed unsolved issues as ...
Migrant children: US battle moves to Congress

Migrant children: US battle moves to Congress

World
Media playback is unsupported on your device The US political battle over migrant children separated from parents has shifted to Congress, after Donald Trump signed an order ending the practice.The House of Representatives will vote on broader immigration bills which fund President Trump's proposed border wall and reduce legal migration.But Democrats oppose them and it is uncertain that they will pass.Mr Trump reversed his policy after a public outcry at home and globally over the policy, widely seen as inhumane. The order calls for the families to be detained together while their cases are considered.More on child migrants crisisBut the fate of families already separated by the policy is not clear.US immigration officials say 2,342 children w...
Macron attacks nationalism in speech to US Congress

Macron attacks nationalism in speech to US Congress

World
Media playback is unsupported on your deviceFrench President Emmanuel Macron has used his speech to the joint houses of the US Congress to denounce nationalism and isolationism.Mr Macron said such policies were a threat to global prosperity.The speech was widely interpreted as a thinly veiled attack on President Donald Trump's America First agenda.Mr Macron also raised differences on global trade, Iran and the environment, seemingly in contrast to the warm bonhomie of his visit so far.The French president was given a three-minute standing ovation as he took his place in the chamber for his speech.Media playback is unsupported on your deviceHe hailed the "unbreakable bonds" of the US and France, forged in "liberty, tolerance and equal rights".What does a Trump-Macron bromance mean for the w...
Facebook CEO didn't have all the answers for Congress

Facebook CEO didn't have all the answers for Congress

Technology
Facebook CEO Mark Zuckerberg often came across as one of the smartest people in the room as he jousted with U.S. lawmakers demanding to know how and why his company peers into the lives of its 2.2 billion users. But while some questions were elementary, others left Zuckerberg unable to offer clear explanations or specific answers. A series of tough inquiries about how much personal information Facebook vacuums up on and off its social network seemed particularly vexing for Zuckerberg, who couldn't quantify it. He was vague about whether Facebook was a monopoly and whether it would offer an ad-free option, as well as about how the company could offer the same level of privacy protection to users around the world. Zuckerberg squirmed when pressed about a 2011 agreement with the Federal Trad...